Wedbush Reiterates an 'Outperform' on Google (GOOG); EPS Downside Overshadows Revenue Upside, But Growth Opportunities Abound
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Price: $343.54 -0.12%
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush reiterates an 'Outperform' on Google (NASDAQ: GOOG), PT cut from $750 to $700.
Wedbush analyst says, "Despite near-term margin compression, we continue to believe Google is a compelling investment opportunity given its multiple billion dollar growth opportunities. Search remains the primary engine of growth, but we also expect Google to be a top player in the display advertising market. Android should become the leading smartphone operating system and Chrome OS is gaining market share in the PC operating system market. While we estimate a higher rate of investment in these growing businesses for FY11 to ensure their success, we expect spending to plateau and margins to stabilize in FY12." (Wedbush lowers FY11 EPS estimate to $34.39 from $34.72, raises FY12 to $39.95 from $39.93)
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $578.51 yesterday.
Wedbush analyst says, "Despite near-term margin compression, we continue to believe Google is a compelling investment opportunity given its multiple billion dollar growth opportunities. Search remains the primary engine of growth, but we also expect Google to be a top player in the display advertising market. Android should become the leading smartphone operating system and Chrome OS is gaining market share in the PC operating system market. While we estimate a higher rate of investment in these growing businesses for FY11 to ensure their success, we expect spending to plateau and margins to stabilize in FY12." (Wedbush lowers FY11 EPS estimate to $34.39 from $34.72, raises FY12 to $39.95 from $39.93)
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $578.51 yesterday.
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